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14.04.2011
OPIC will increase the credit line for “Basisbank” SME financing.
 The meeting was held between the Bank’s management and Projects Financing Director of OPIC (Overseas Private Investment Corporation) – Kenneth Angel at the head office of “Basisbank”, where the remaining details on receiving the additional investment pack with the volume of the 5 million USD by the bank.

 

The cooperation between OPIC and “Basisbank” started at the end of 2009, when the private investments corporation of the US government allocated the 5 million USD credit line to the Bank. The line was used for funding small and medium enterprises.

 

Mr. Kenneth Angel also attended the “Basisbank” head office inauguration last week.

 

“Basisbank” is the bank of international standards and proper management, bearing the status of one of the major, considerable and stable financial institutions in Georgia. Considering the successful cooperation between “Basisbank” and OPIC, we have made a decision to allocate the additional investment pack of 5 million USD to the Bank, which will also basically, like the previous credit line, will be used for SME development in Georgia” – said Mr. Kenneth Angel at the ceremony.

 

The bank CEO David Tsaava stated that international organizations play a very important role in the bank’s development and that the priority of “Basisbank” is exactly encouraging the local small and medium enterprises, supporting in general economic development in the country.  



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